Friday, December 21, 2007
For the first 9 months of the year, Internet advertising grew by nearly 16 percent. Local and national newspapers lost 7.4 and 5.2 percent of their revenue, and TV networks dropped by 2.5 percent.
These numbers prove that for up-to-the minute news and commentary, websites and blogs are increasingly the place to go. Magazines, however, continue to do well, up by 7.7 percent, indicating that for feature articles and tabloid fare, nothing beats shiny paper in the hand.
Newspapers will always be important information gateways, but like the TV networks, they can no longer dictate ad rates or shape public opinion in the same way. The generation born in the 21st century won't view papers in the same way as we did, using them as a secondary, not primary news source.
Immediacy is key in our news consumption, while investigative reporting and features can wait for the highest quality.